Source: HartEnergy.com

A&D DEAL SHEET

Sector  Date
Announced
 Buyer  Seller  Value
(US$MM)
 Comments
E&P 8/29/22 Helix Energy Solutions Group Inc. Murphy Oil Corp. $16

Purchased 62.5% interest in Mississippi Canyon Block 734 comprises three wells and related subsea infrastructure, collectively known as the Thunder Hawk Field, located in the US GoM.

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S&S  8/30/22 Aker Solutions ASA Schlumberger Ltd.; Subsea 7 SA $700.5

To form a JV by combining Schlumberger’s and Aker Solutions’ subsea businesses with Subsea 7 as an equity partner in the new JV; combined business will have approximately 9,000 employees globally and generate an estimated synergy potential of more than $100 million per annum. (Expected to close 2H 2023)

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E&P 9/1/22 IKAV Exxon Mobil Corp.; Shell Plc; Aera Energy LLC $4,000

To purchase Aera Energy, formerly a JV between Exxon Mobil and Shell and one of CA’s largest oil and gas producers; includes 13,000 wells in the San Joaquin Valley producing about 95,000 boe/d. (Expected to close 4Q 2022)

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E&P 9/1/22 Permian Resources Corp. Colgate Energy Partners III LLC; Centennial Resource Development Inc. $3,900

Acquired Stronghold Energy II Operating LLC and Stronghold Energy II Royalties LP consisting of 37,000 net acres located primarily in Crane County, TX, in the Permian Basin’s Central Basin Platform; includes strong current net production of about 9,100 boe/d (54% oil, 75% liquids). (Completed; PSA announced July 2022)

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E&P 9/1/22 Ring Energy Inc. Stronghold Energy $465

Acquired Stronghold Energy II Operating LLC and Stronghold Energy II Royalties LP consisting of 37,000 net acres located primarily in Crane County, TX, in the Permian Basin’s Central Basin Platform; includes strong current net production of about 9,100 boe/d (54% oil, 75% liquids). (Completed; PSA announced July 2022)

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S&S 9/1/22 STEP Energy Services Ltd. ProPetro Holdings Corp. CA$17.2

Purchased four high-spec, ultradeep capacity coiled tubing units, ancillary equipment along with the divisional leadership and operational personnel from ProPetro.

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E&P 9/6/22 EQT Corp. Tug Hill Inc.; XcL Midstream LLC; Quantum Energy Partners $5,200

To acquire THQ Appalachia I LLC (Tug Hill)'s upstream assets and THQ-XcL Holdings I LLC (XcL Midstream)'s gathering and processing assets, both backed by Quantum Energy Partners, in the Appalachian Basin offsetting existing West Virginia core leasehold. (Expected to close 4Q 2022)

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E&P 9/6/22 Sitio Royalties Corp. Brigham Minerals Inc. $4,800

To acquire in an all-stock merger; combined company will consist of a total of 259,510 net royalty acres in the Permian Basin and other oil-focused regions.

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Mid 9/8/22 Williams Cos. Inc. NorTex Midstream; Tailwater Capital $423

Bought NorTex Midstream, a fully contracted natural gas pipeline and storage asset in North Texas backed by Tailwater Capital.

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Mid 9/12/22 Antero Midstream Corp. Crestwood Equity Partners LP $205

To purchase Crestwood’s Marcellus natural gas gathering and compression assets are located in the Appalachian Basin in Doddridge and Harrison Cos, WV; includes 72 miles of dry gas gathering pipelines and nine compressor stations with roughly 700 MMcf/d of compression capacity. (Expected to close 4Q 2022)

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Renew 9/12/22 CIM Group MAS Energy LLC N/A

Acquired 100% of the renewable natural gas (RNG) development platform of MAS Energy, which will be renamed Terreva Renewables.

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E&P 9/12/22 Tamarack Valley Energy Ltd. Deltastream Energy Corp.; ARC Financial Corp. CA$1,425

To buy privately held pure-play Clearwater oil producer, Deltastream, which is backed by ARC Financial. (Expected to close October)

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E&P 9/12/22 Topaz Energy Corp. Deltastream Energy Corp. $265.3

To purchase a newly created 5% gross overriding royalty on all current and future oil production from Deltastream’s entire Clearwater acreage. (Expected to close Sept. 29)

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E&P 9/13/22 U.S. Energy Development Corp. Undisclosed $60

Acquired three separate asset packages in the core of the Delaware Basin in the Permian region that includes partnering with operators in 17 new wells spanning a three-county area.

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Renew 9/14/22 Enverus RatedPower N/A

Purchased the Madrid-based company helps companies in the solar industry through use of automatization and optimization as well as digital technologies and analysis.

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E&P 9/15/22 SilverBow Resources Inc. Undisclosed $50

Purchased through a series of transactions a 7,500 net-acre position in the dry gas Dorado play in Webb County, TX, with over 50 net drilling locations across the Austin Chalk and Eagle Ford formations; net recoverable resource is 650 Bcf and current net production is about 30 MMcf/d.

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For more up-to-date information on the latest deals visit Hart Energy’s online database of transactions.